Danaher (NYSE:DHR) Reaches New 1-Year Low - Here's What Happened

Key Points

• 52-week low: Danaher shares fell to a new 52-week low of $172.06 (last $174.85) on heavy volume and are trading well below their 50- and 200-day moving averages of $191.92 and $212.77, respectively.
• Q1 results: the company beat EPS expectations ($2.06 vs. $1.94) but missed revenue ($5.95B vs. $6.0B), and declared a quarterly dividend of $0.40 (annualized $1.60, yield 0.9%, ex-dividend June 26).
• Analyst landscape: several large firms cut price targets (e.g., Goldman and Wolfe to $230), yet consensus remains a Moderate Buy with 18 Buy and 3 Hold ratings and an average price target of $240.70.

Danaher Corporation (NYSE:DHR - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as $172.06 and last traded at $174.8470, with a volume of 5983254 shares changing hands. The stock had previously closed at $174.63.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DHR shares. KeyCorp reissued an "overweight" rating on shares of Danaher in a report on Thursday, January 29th. Wolfe Research reduced their price target on shares of Danaher from $260.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 8th. The Goldman Sachs Group reduced their price target on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 13th. Wells Fargo & Company reduced their price objective on shares of Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a report on Wednesday, April 22nd. Finally, Argus reduced their price objective on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $240.70.

Danaher Stock Up 0.1%

The firm has a market cap of $123.75 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The business's 50-day moving average is $191.92 and its 200-day moving average is $212.77.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.88 EPS. On average, equities analysts predict that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 26th. Danaher's dividend payout ratio (DPR) is presently 30.95%.

Insiders Place Their Bets

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the sale, the executive vice president owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Danaher

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after acquiring an additional 472,608 shares in the last quarter. Capital International Investors increased its position in Danaher by 8.9% in the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after acquiring an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Danaher by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock valued at $3,656,595,000 after acquiring an additional 1,334,221 shares in the last quarter. Wellington Management Group LLP increased its position in Danaher by 11.2% in the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock valued at $3,451,380,000 after acquiring an additional 1,517,904 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Danaher in the 4th quarter valued at about $2,177,106,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Company Profile

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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